White House Considering Withdrawing Support for Crypto Market Structure Bill Over Coinbase Actions

KuCoinFlash

Release Time:01/17/2026 03:31:02

Summary

White House officials are reportedly reconsidering their level of support for the cryptocurrency market structure bill if Coinbase refuses to return to negotiations on a revenue-sharing agreement. The administration criticized Coinbase's abrupt change in stance, stating that the company failed to consult with the White House or industry stakeholders. Officials emphasized that a single firm cannot dictate the direction of the entire sector and clarified that the bill remains under President Trump's control, not Brian Armstrong. The situation raises questions about support and resistance within the broader regulatory framework.

Odaily Planet News: Reporter Eleanor Terrett from Crypto In America posted on the X platform that, according to sources close to the Trump administration, if Coinbase does not return to the negotiating table to reach a profit-sharing agreement satisfactory to the banks and facilitate a final deal, the White House is considering completely withdrawing its support for the cryptocurrency market structure bill.

Sources said that the White House is angry about Coinbase's unilateral action on Wednesday, calling it a "sudden reversal" toward the White House and the entire industry without prior notice. The White House believes that a single company cannot represent the entire industry and emphasized that the bill ultimately belongs to President Trump, not Brian Armstrong.

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